Today, the Consumer Financial Protection Bureau released the first details of long-awaited regulations governing payday loans and other small-dollar lines of credit known to thrust consumers into a devastating cycle of debt. While consumer advocates were quick to applaud the Bureau’s work, and those in the financial industry to voice displeasure with aspects of the potential rules, both groups agreed that the coming months will involve more time and effort to craft meaningful protections for both sides of the issue. [More]
regulations
Report: Auto Title Loans Just As Bad, If Not Worse Than Payday Loans; Should Face Same Rules
By 3.25.15
Each year millions of consumers turn to high-interest, short-term loans to make ends meet. While you may be more familiar with payday lenders who charge triple-digit interest rates with the goal of trapping borrowers into taking out new loans to pay off the old ones, a new report finds that payday’s lesser-known relative, auto title loans, have equally destructive repercussions. [More]
Report: Teens Buy E-Cigarettes Online With Little Difficulty Despite Industry Safeguards
By 3.2.15
Back in February 2014, Ohio became the first state to prohibit the sale of e-cigarettes to minors. Since then, 40 other states and cities have followed suit. Despite those regulations, a new study found it’s increasingly easy for teens to skirt the rules by purchasing the products online. [More]
Fifth Third Bank Backtracks On Its Pledge To End Payday Loans
By 11.4.14
In early 2014, the four major banks still offering customers payday loan-like services announced they would discontinue their often under-fire programs by the end of the year. Apparently Fifth Third Bank has changed its mind, announcing plans to continue with a revised, supposedly less harmful version of the service for existing customers. But consumer groups say the revamped service doesn’t actually address the problems that led banks to discontinue programs in the first place. [More]
Senators Tell The FDA To Hurry Up Already With Finalizing Those Months-Old E-Cigarette Regulations
By 10.9.14
When the Food and Drug Administration unveiled proposed regulations for electronic cigarettes back in April, it was an announcement five years in the making. Now several months later little has happened, and a group of senators fear that the failure to quickly finalize the rules has led to the perpetration of misleading health warnings created by tobacco companies themselves. [More]
Proposed Regulations On E-Cigarettes Include Health Warning Label, Age Restrictions
By 4.24.14
It only took five years, but the Food and Drug Administration is ready to begin regulating electronic cigarettes. While the new rule covers a lot of ground with the never-before regulated devices, it doesn’t deal with some of critics’ more controversial concerns. [More]
Proposed For-Profit College Watchdog Group Would Call Out Which Problem Schools To Avoid
By 4.10.14
For-profit colleges have been dominating the news cycle lately; from a newly proposed “gainful employment” rule to federal agencies suing schools for deceptive marketing tactics. The fight to rein in these sometimes predatory higher-education institutions doesn’t appear to be losing steam. Legislation proposed last week aims to improve the coordination between federal agencies that oversee the industry, while providing student with a list of unsavory schools. [More]
Proposal To Regulate E-Cigarettes Expected Soon, FDA Says
By 4.3.14
While critics of e-cigarettes raise concerns about everything from exploding devices to poisoning risks to marketing and advertising to minors, there are currently no specific federal regulations on these products. That is likely to change soon, says the head of the FDA. [More]
Fliers Lost $2.5B In Air Travel Expenses In January Thanks To The Polar Vortex, FAA Regulations
By 2.4.14
If you believe Punxsutawney Phil, then we’re in for a lot more winter. More winter weather means the possibility of more flight cancellations and delays on the horizon. And that’s not a comforting thought for consumers who already lost more than $2.5 billion in travel expenses in January. [More]
Gaps In Regulation And Oversight Left West Virginia Chemical Spill Site Uninspected For 22 Years
By 1.13.14
How did 300,000 West Virginia residents end up without clean water for five days and counting? A chain of incomplete regulations and bureaucratic hand-offs allowed the massive chemical leak to happen without notice, largely on nobody’s watch, the Wall Street Journal reports. [More]
More Rest For Pilots Could Mean Fewer Flights For Travelers
By 1.10.14
Fewer pilots and longer resting requirements could be trouble for regional airlines. The issues that grounded hundreds of JetBlue flights this week could be just the start after new FAA regulations on rest for pilots went into effect Saturday. [More]
L.A. City Councilman Proposes Making Spray Paint Buyers Provide Addresses, IDs
By 9.9.11
Los Angeles is a city crawling with artists and graffiti vandals, and both sectors — as well as other folks who like to paint stuff for legitimate reasons — are big on buying spray paint. In order to keep closer tabs on the graffiti types, the L.A. City Council is proposing a law that would require anyone who buys spray paint to submit their address and identification so police can keep the information on file. [More]
Government Wants Organic Small-Batch Ice Cream Maker To Stop Making Organic Small-Batch Ice Cream
By 8.15.11
Nice Cream is a small ice cream company in Chicago that does something strange and daring in the modern food landscape: they make and sell ice cream using only ingredients with names that ordinary people can pronounce. Ingredients such as “cream,” “eggs,” and “pie.” The tiny company was a classic recession success story: a laid-off teacher experiments at home with her Cuisinart ice cream maker, and with hard work and creativity creates a delicious product that’s eventually sold at Whole Foods. But the state of Illinois doesn’t really see it that way, and Nice Cream will have to shut down or make drastic changes to its products and process in order to stay legal. They’re first, and other small-batch ice cream makers could be next. [More]
1956 Ad Says Feed 7-Up To Babies
By 6.28.11
This Seven-Up ad from a 1956 LIFE is simply amazing. Who needs mother’s milk when you have Seven-Up? [More]
Adding Calories To Menus Doesn't Affect Consumption, Study Says
By 1.27.11
Though the move to require menus to sport calorie information was met with applause by health advocates, a new, limited, study of Taco Time restaurants in Seattle says they don’t change what people decide to eat. [More]
Calorie Count Rules Coming To Theaters, Airplanes, Convenience Stores, Supermarket Food Courts
By 8.31.10
The FDA says the law that requires restaurant chains with more than 20 locations to post calorie counts also applies to other types of businesses, reports the Wall Street Journal. Specifically, movie theaters, airplanes, trains, food courts in grocery stores, and convenience stores are all considered chains and will soon have to start following the law. The agency hasn’t made up its mind yet whether things like salad bars in grocery stores will have to fall in line. The FDA will announce official guidelines in December. [More]
Public Menace? Las Vegas Wants To Ban Gigantic Hula Hoops
By 8.9.10
We’ve never been to Las Vegas, but apparently there is a serious problem with giant hula hoops going on. According to AOL, the Las Vegas City Council is considering banning hula hooping on a five-block pedestrian mall called “The Fremont Street Experience.” (Warning: link is annoying.) [More]
Lawsuit Asks FDA To Regulate Sperm-Damaging Antimicrobial Soap Chemicals
By 8.1.10
Thirty years ago, the FDA considered regulating two toxic chemicals that can damage reproductive organs, sperm quality, and hormone production. Rather than do something, the agency instead did nothing. Last week, the National Resources Defense Council sued the agency, asking them to finally finish the job and regulate the chemicals triclosan and triclocarban. [More]
